2021-11-17T15:49:49-06:00 2020-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2020-01-01 940755684 PATELCO CREDIT UNION PATE 8003588228 3 PARK PLACE DUBLIN CA 94588 SUSAN GRUBER EVP CFO 8003588228 2021-11-10 1 SUSAN GRUBER 000006857 HARRY A KALAJIAN JR CPA P00464296 6174399700 2021-11-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z SUSAN GRUBER 3 PARK PLACE DUBLIN CA 94588 57010606329 0 1526 X WWW.PATELCO.ORG X CREDIT UNION 1936 CA PROVIDES A BROAD RANGE OF LOAN & DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS LOCATED IN NORTHERN CALIFORNIA AND ILLINOIS 12 12 887 12 171671 0 0 0 254725263 235000787 38370107 35452130 6611140 7992863 299706510 278445780 241056 295237 0 0 81310724 86140920 0 0 0 153279685 161145411 234831465 247581568 64875045 30864212 7290342964 8433823239 6530154672 7631272239 760188292 802551000 X THE ORGANIZATION IS A FULL SERVICE STATE-CHARTERED CREDIT UNION THAT PROVIDES A BROAD RANGE OF LOAN AND DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS LOCATED IN NORTHERN CALIFORNIA AND ILLINOIS USING VARIOUS CHANNELS INCLUDING BRANCHES, A CALL CENTER AND THE INTERNET. 0 0 PATELCO CREDIT UNION IS A STATE-CHARTERED CREDIT UNION THAT IS COMMITTED TO PROVIDE ITS MEMBERS WITH SUPERIOR FINANCIAL SERVICES. ITS PRIMARY FUNCTION IS TO PROVIDE LOANS TO ITS MEMBERS AS WELL AS ACCEPT DEPOSITS FROM THEM. IN 2020, THE CREDIT UNION PROVIDED MEMBERS WITH 5,522 NEW REAL ESTATE LOANS TOTALING $1,822,761,131, AND 43,620 NEW CONSUMER LOANS TOTALING $874,372,219. AS OF DEC 31, 2020, THERE WERE 915,266 DEPOSIT ACCOUNTS TOTALING $7,253,884,724. 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 225271 0 1 887 1 1 1 0 0 0 0 0 1 0 X 12 12 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X SUSAN GRUBER 9254604613 3 PARK PLACE DUBLIN CA 94588 PETER HANLET CHAIRMAN 5.00 X X 979 0 0 RACE CHEN TREASURER 5.00 X X 0 0 0 ROBERT A MCCORMISH DIRECTOR 5.00 X 0 0 0 TRACEY SCOTT DIRECTOR 5.00 X 0 0 0 VICKIE RATH DIRECTOR 5.00 X 0 0 0 LAURA CHAMBERS SECRETARY 5.00 X X 0 0 0 JESSE RIVERA 1ST VICE CHAIR 5.00 X X 0 0 0 JEFFREY PARKS DIRECTOR 5.00 X 1002 0 0 GARICK ZILLGITT DIRECTOR 5.00 X 0 0 0 EMILY SCHUBERT DIRECTOR 5.00 X 0 0 0 DEBBIE CHAW 2ND VICE CHAIR 5.00 X X 0 0 0 COLLEEN CABEY DIRECTOR 5.00 X 0 0 0 MITSUHO R WADA CLO 40.00 X 758271 0 40752 SUSAN GRUBER EVP, CFO 40.00 X 516641 0 49222 SUSAN MAKRIS CAO 40.00 X 405604 0 33468 MELISSA MORGAN CHIEF RETAIL OFFICER 40.00 X 461056 0 33444 KEVIN LANDEL SVP, INNOVATION 40.00 X 392849 0 48378 KALYAN MAJMUMDAR CTO 40.00 X 407919 0 42257 ERIN MENDEZ PRESIDENT/CEO 40.00 X 1168119 0 41307 ANGELA L JEFFERS SVP, GENERAL COUNCIL 40.00 X 283948 0 29635 RINA JOHNSON VP MARKETING 40.00 X 269852 0 29872 MICHAEL PORRIER VP, CONSUMER LENDING 40.00 X 326754 0 44811 SUSAN CCOLEMAN VP INTERNAL AUDIT 40.00 X 273974 0 31506 LEILANI V APOLONIO VP PAYMENT OPERATIONS 40.00 X 268018 0 28622 VINCENT B SALINAS VP REAL ESTATE LENDING 40.00 X 332033 0 21159 ERIK L WELCH VP RETAIL OPERATIONS 40.00 X 301467 0 24110 ELAINE HAMANN VP DIGITAL DELIVERY 40.00 X 308378 0 18039 AMEET SETH VP BRANCHES 40.00 X 318673 0 44964 YIP CHANNING E LOAN SALES 40.00 X 485623 0 23915 ANDREW J KUSH LOAN SALES 40.00 X 394926 0 32184 BRANDON L BLALOCK LOAN SALES 40.00 X 416692 0 35952 EMMANUEL PABLO LOAN SALES 40.00 X 678802 0 41307 KEVIN HAYDEN INVESTMENT SALES 40.00 X 473094 0 52084 9244674 0 746988 34 0 1 0 CHARLES PANKOW BUILDERS LTD 199 S LOS ROBLES AVE PASADENA CA 91101 GENERAL CONTRACTOR 2777554 MORTGAGE CADENCE LLC 28662 NETWORK PLACE CHICAGO IL 606731286 MORTGAGE SERVICES 1046875 ALLIED UNIVERSAL SECURITY SERVICES 8 TOWER BRIDGE 161 WASHINGTON STRE CONSHOHOCKEN PA 19428 INDUSTRIAL PRODUCTS 922170 STYSKAL WIESE & MELCHIONE LLP 550 N BRAND BLVD 550 GLENDALE CA 91203 LEGAL SERVICES 510448 AVTEX SOLUTIONS 3500 AMERICAN BLVD W SUITE 300 MINNEAPOLIS MN 55431 IT SOLUTIONS 418345 44 INTEREST ON LOANS TO MEMBERS 522100 206945832 206945832 INTERCHANGE FEE INCOME 522100 14731939 14731939 SERVICE CHARGES 522100 9705841 9705841 ATM FEES 524298 3617175 3445504 171671 235000787 15743888 15743888 230092 0 230092 230092 230092 56727050777 24818014 56726785113 5375436 265664 19442578 19708242 19708242 INVESTMENT ADVISORY INCOME 522100 4762336 4762336 MISC INCOME 900099 1693906 1693906 INSURANCE REVENUE 522100 1306529 1306529 7762771 278445780 242821979 171671 35452130 295237 6795537 60999770 4025614 9382815 4937184 2799424 678602 514251 2208739 4717251 5620796 9441706 16568591 342337 73661758 4457543 888166 PROVISION FOR LOAN LOSS 22900000 LOAN SERVICING EXPENSES 5269888 ATM & OTHER PROCESSING 4009075 EQUIPMENT/MAINTENANCE 2248690 4818594 247581568 24877210 33008292 368315072 1155531546 16198211 16203703 5583293720 5437910761 17251882 22498645 128390895 22084140 98741147 106306755 803184234 1029613108 23694209 23583405 24410546 24410546 330376733 584756478 7290342964 8433823239 49979508 77387515 12609595 13658411 6467565569 7540226313 6530154672 7631272239 X 0 0 0 0 760188292 802551000 760188292 802551000 7290342964 8433823239 X 30864212 13519128 -2020632 X X 0 1 X 1 0 CCUL PAC VOLUNTARY CONTRIBUTION PO BOX 51476 ONTARIO CA 917610076 942329967 2500 SCHEDULE C, PART I-A, LINE 1 - DESCRIPTION OF POLITICAL ACTIVITIES THE CREDIT UNION'S ACTIVITES INCLUDE DONATIONS TO CAMPAIGNS AND PACS RELATED TO THOSE THAT SUPPORT CREDIT UNIONS AND SPECIFIC LEGISLATION THAT IS IMPORTANT AND BENEFICIAL TO CREDIT UNIONS. 0 1 X 11064734 11064734 81650458 3619565 78030893 18374172 9309616 9064556 17301531 9154959 8146572 106306755 NCUSIF DEPOSIT 64105516 OTHER ASSETS/DEPOSITS 88541678 REVERSE REPURCHASE AGREEMENT 400000000 LEASE ROU ASSETS 32109284 584756478 REGULAR SHARES 1185433691 SHARE DRAFTS 1363486760 MONEY MARKET ACCOUNTS 2605761721 SHARE CERTIFICATES 2085544141 FHLB ADVANCE 300000000 7540226313 X PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNT IN CONNECTION WITH THE MORTGAGE LOANS. THE CREDIT UNION COMPLIES WITH ALL FEDERAL & STATE LAWS REGARDING DISCLOSURES AND OPERATION OF THESE ACCOUNTS. PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AT ISSUE FOR MANY YEARS. DURING 2007, THE IRS ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSES IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED, AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. THE CREDIT UNION IS NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AND STATE TAX AUTHORITIES FOR TAX YEARS BEFORE 2014. 0 X 1 1 X X X 0 0 0 ERIN MENDEZ PRESIDENT/CEO 775208 0 380000 0 12911 0 22800 0 18507 0 1209426 0 0 0 MITSUHO R WADA CLO 336965 0 418326 0 2980 0 22800 0 17952 0 799023 0 0 0 EMMANUEL PABLO LOAN SALES 36674 0 641152 0 976 0 22800 0 18507 0 720109 0 0 0 SUSAN GRUBER EVP, CFO 342804 0 170849 0 2988 0 22800 0 26422 0 565863 0 0 0 KEVIN HAYDEN INVESTMENT SALES 35954 0 436821 0 319 0 22800 0 29284 0 525178 0 0 0 YIP CHANNING E LOAN SALES 86371 0 397372 0 1880 0 21216 0 2699 0 509538 0 0 0 MELISSA MORGAN CHIEF RETAIL OFFICER 316767 0 139963 0 4326 0 22800 0 10644 0 494500 0 0 0 BRANDON L BLALOCK LOAN SALES 41107 0 374624 0 961 0 16271 0 19681 0 452644 0 0 0 KALYAN MAJMUMDAR CTO 325012 0 81320 0 1587 0 22800 0 19457 0 450176 0 0 0 KEVIN LANDEL SVP, INNOVATION 264171 0 126245 0 2433 0 22141 0 26237 0 441227 0 0 0 SUSAN MAKRIS CAO 280646 0 121186 0 3772 0 22800 0 10668 0 439072 0 0 0 ANDREW J KUSH LOAN SALES 115485 0 279222 0 219 0 15150 0 17034 0 427110 0 0 0 MICHAEL PORRIER VP, CONSUMER LENDING 246494 0 79642 0 618 0 17581 0 27230 0 371565 0 0 0 AMEET SETH VP BRANCHES 223685 0 89966 0 5022 0 18727 0 26237 0 363637 0 0 0 VINCENT B SALINAS VP REAL ESTATE LENDING 239260 0 91683 0 1090 0 19160 0 1999 0 353192 0 0 0 ELAINE HAMANN VP DIGITAL DELIVERY 223913 0 83431 0 1034 0 18017 0 22 0 326417 0 0 0 ERIK L WELCH VP RETAIL OPERATIONS 212251 0 84103 0 5113 0 17075 0 7035 0 325577 0 0 0 ANGELA L JEFFERS SVP, GENERAL COUNCIL 251115 0 31680 0 1153 0 20267 0 9368 0 313583 0 0 0 SUSAN CCOLEMAN VP INTERNAL AUDIT 194879 0 78498 0 597 0 14460 0 17046 0 305480 0 0 0 RINA JOHNSON VP MARKETING 185975 0 83488 0 389 0 14058 0 15814 0 299724 0 0 0 LEILANI V APOLONIO VP PAYMENT OPERATIONS 187087 0 74707 0 6224 0 15437 0 13185 0 296640 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - THE CREDIT UNION PROVIDES TRAVEL FOR COMPANIONS BENEFITS TO THE BOARD MEMBERS AND REPORTS APPLICABLE AMOUNTS AS TAXABLE BENEFITS. FORM 990, PART IV, LINE 26 - LOANS TO AND /OR FROM INTERESTED PERSONS: SOME OF THE OFFICERS, DIRECTORS AND KEY EMPLOYEES HAVE LOANS OUTSTANDING FROM THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE ORDINARY COURSE OF BUSINESS OF THE CREDIT UNION ON THE SAME TERMS AVAILABLE TO ALL MEMBERS. BASED ON THE SCHEDULE L INSTRUCTIONS, THESE LOANS ARE NOT DISCLOSED. FORM 990, PART VI, SECTION A, LINE 6 PATELCO CREDIT UNION IS A STATE-CHARTERED CREDIT UNION ORGANIZED UNDER THE PROVISIONS OF THE CALIFORNIA CREDIT UNION ACT. MEMBERSHIP IN THE CREDIT UNION IS LIMITED TO THOSE INDIVIDUALS THAT QUALIFY FOR MEMBERSHIP, INCLUDING EMPLOYEES OF AT&T, WALGREENS AND OTHER SPECIFIC EMPLOYER SPONSORS, AND INDIVIDUALS WHO LIVE, WORK, OR WORSHIP IN ONE OF A SPECIFIC GROUP OF CITIES IN NORTHERN CALIFORNIA. THE FIELD OF MEMBERSHIP IS DEFINED BY THE CREDIT UNION BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERS ELECT BOARD OF DIRECTORS WITH VARIED TERMS AT AN ANNUAL MEETING HELD EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION MEMBERS ELECT BOARD OF DIRECTORS WITH VARIED TERMS AT AN ANNUAL MEETING HELD EACH YEAR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CFO AND THE CHAIRPERSON OF THE FINANCE COMMITTEE. IT IS ALSO AVAILABLE TO ALL BOARD MEMBERS FOR REVIEW PRIOR FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND OFFICIALS ARE SUBJECTS TO CREDIT UNION CONFLICT OF INTEREST POLICIES. VIOLATIONS COULD BE SUBJECT TO DISCRIPLINARY ACTION. ALL IN-HOUSE ACCOUNTS HELD WITH THE CREDIT UNION ARE SUBJECT TO INTERNAL REVIEW. FORM 990, PART VI, SECTION B, LINE 15 ALL MANAGEMENT POSITIONS HAVE COMPENSATION SET BY THE POLICIES AND GUIDELINES APPROVED BY BOARD OF DIRECTORS OR CEO. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSING THEM IN EACH OF ITS RETAIL BRANCHES. ITS ANNUAL REPORTS AND FINANCIAL STATEMENTS ARE POSTED ON THE PATELCO CREDIT UNION'S WEBSITE AT WWW.PATELCO.ORG. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE TO THE MEMBERS UPON REQUEST IN WRITING. FORM 990, PART XI, LINE 9: CHANGE IN OTHER COMPREHENSIVE INCOME -2,020,632. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS OF PATELCO CREDIT UNION DURING THE TAX YEAR 2020. PATELCO INSURANCE SERVICES INC 5050 HOPYARD RD PLEASANTON CA 94588 943068709 INS & INVESTMENTS CA PATELCO CREDIT UNION C 347011 1559502 1.00000 1 MEMBERS ADVANTAGE PLUS 5050 HOPYARD RD PLEASANTON CA 94588 943233988 AUTO BUYING SERVICES CA PATELCO CREDIT UNION C 42350 51231 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 PATELCO INSURANCE SERVICES O 53808 FMV PATELCO INSURANCE SERVICES Q 111941 FMV PATELCO INSURANCE SERVICES M 320868 FMV MEMBERS ADVANTAGE PLUS O 56265 FMV MEMBERS ADVANTAGE PLUS Q 15906 FMV MEMBERS ADVANTAGE PLUS M 42350 FMV MEMBERS ADVANTAGE PLUS A 11304 FMV